Housing developer make deal with Transport for London to provide 86 one-bedroom homes for first-time buyers to tackle the housing crisis in Barnet
Located at Woodside Park adjacent to Woodside Park Station in Barnet, the development will span across two four-storey buildings.
The building contractor HG Construction will build the 86 Pocket Homes in proximity to the railway lines, a location that has resulted in many technical difficulties during the planning stage.
Rooftop gardens equipped with allotment beds will be accessible by all living at Pocket Living.
Encouraging locals to buy
A 20% discount is offered to local first-time buyers to encourage them to purchase from Pocket Living.
Terms and conditions:
- The prospective buyer cannot already own another property
- They must live or work in the borough of the respective development
- All buyers must earn under the Mayor of London’s income threshold for affordable housing
- When the homes are sold on, new purchasers must meet the original criteria and have a household income below the Mayor of London’s affordable housing threshold
Solving the housing crisis
“This is exactly the kind of challenging small site which needs to come forward if we are to solve the housing crisis. Whilst there have been challenges along the way, the joint working between TfL and Pocket will now lead to the creation of 86 first time buyer homes for local residents of Barnet.”
“Pocket has always been at the heart of innovative collaborations in the housing sector and we believe new thinking and working in partnership with the public sector is crucial if we are serious about tackling the housing crisis. The delivery of this site demonstrates our commitment to this.
“We are also thrilled to be working on the delivery side again with our construction partners HG. This will be the seventh collaboration with their team and we are all looking forward to seeing this building coming out of the ground.”
Nick Cuff, Pocket Living’s chief commercial officer comments.
Conor Rice, managing director at HG Construction said:
“HG Construction has built up a wealth of experience in delivering challenging and complex London schemes which are highly relevant to this project.
“We have an excellent working relationship with Pocket Living and we are delighted to be partnering with them again to deliver this innovative Woodside Park scheme which will help address the local housing shortage.”
TfL’s new programme
Pocket Living is part of TfL’s wider commercial development programme to put up thousands of high-quality new homes across the capital.
- TfL has promised to deliver 50% affordable housing across the current portfolio
- It has also committed to providing sustainable revenue to reinvest into public transport so that the organisation’s reliance on fares revenue is reduced
“We are pleased to have completed the agreement with Pocket Living on this site at Woodside Park, which will deliver 86 new affordable homes.
“This development plays an important part in tackling the housing crisis and delivering the new homes that the capital urgently needs, while also generating vital revenue to invest into London’s transport network”, Jonathan Cornelius, head of property development at TfL adds.
